Two trusted companies and household names in trader funding industry. They have both recently improved conditions in their funding process in favor of the Traders, some of the recent updates are:
Gauntlet Funded Trader Program By Earn2Trade
- End of Day Drawdown – draw down no longer trails intraday and is only adjusted after market closes.
- Multiple funded accounts – try out multiple strategies and separate futures trading virtual a accounts and get funding for them
- Fewer Days to Funding, now can get a funded account in as little as 8 days
- Pro Live account added to the profit split in favor of the trader (limited time)
We now have a big deal in the Gauntlet Funded Trader Program By Earn2Trade – 40% off 50k account.
TopStep has now started 25% off holiday promotion for ALL accounts.
They both have 50k option as their biggest available account size. Both are EOD drawdown programs so is fair to compare the two since they are in exact same niche.
DD = Drawdown
|TOPSTEP COMBINE||EARN2TRADE GAUNTLET|
|50,000 Virtual||Size||50,000 Virtual|
|Two Steps||Steps||One Step|
($3,000 in each step)
|Profit Target to get Funding||$3000|
|8||Min Days to Funding||15|
Step 2 Only
|Rule violation, ends funding chance in Step 2||Trade News||Can Trade|
|Best day under 40% in Step 2||Consistency Rule||Best day under 30%|
Comparison of funded trader programs
Trader funding program challenge winner: Gauntlet By Earn2Trade
Gauntlet is cheaper and has 50% smaller profit target to get funding vs TopStep. $24 savings in funding program fee are significant, but nowhere near as significant as profit requirement gap between two programs.
If your trading system generated $5,500 in profits since starting funded trader programs:
- Gauntlet – would have $2,500 in live accounts profits
- Topstep – would still be $500 in virtual account goals from receiving funding
Major gap in program requirements.
TopStep only advantage between the two programs is their Scaling Plan enforcement policy. Risk manager at TopStep will prevent you from placing trades that if filled would result in position that is too big. Also, if risk manager fails to prevent you from placing too much size, you have 10 seconds to close out the excess contracts to avoid rule violation.
This advantage can be taken away by Gauntlet users by utilizing local risk manager system that would limit maximum position size. This should be done by all Gauntlet users to avoid only unfavorable “trap” like rule.
Even though trading with funded trader programs eliminates some risk for the traders, as the only risk they assume are trading exam or combine fees, please be away of very significant risks associated with trading futures for when you advance into completely self managed trading environment.